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tv   FOX Business After the Bell  FOX Business  October 17, 2012 4:00pm-5:00pm EDT

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the nasdaq up 0.1% and the russell 2,000 doing very well today up almost 1%. liz: we are waiting on american express, just minutes from now to other credit card games, the new all-time high today, looking at mastercard up 1%, flipped it over to real firming on visa as well up another 4%. dave: every time mitt romney talks about cold and alec he was president he would get them and green light to go ahead and power up the way they haven't been years, we see what we are seeing today happen. of 7% jump in james river coal co. and a lot of other coal stocks getting off balance because of what mitt romney said in the debate. we will see if this happens again. liz: at resources up 8%. stay with in the spotlight and while you were sleeping, the
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spanish ten year bond falling -- falling 32 basis points to 5.45%. that is a list level since april and there have been close correlation between spanish bond yields and the s&p 500 over the past few months. it looks like things look slightly better. in the meantime earnings season in full swing. we have all the action covered for you just minutes away, results from ebay and american express. dave: the positive housing data continues to pile on. we are getting a look at what is driving the momentum with somebody who runs one of the top real-estate firms in the country, ross perot jr. we will ask about this year's election. liz: will be ever consider running? we will ask him that. what drove the markets today? the data download. stocks held on for the most part in the last hour of trading, pushing higher on better than
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expected housing data. all three major indices closing in the green with the dow posting its fourth straight day of gains. up by four points. we have utilities and financial as the top performers. it was really technology and the intel numbers cannot "after the bell" yesterday. lots of action in the currency pits. the euro muzzling and touching a one month high versus the dollar today. look at this level climbing to $1.31 over growing speculation that spain will eventually request a bailout and the pact will be clear so the dollar was actually climbing against the yen but didn't do so well against the euro. that is a fresh four week high and we have hints of further monetary easing by the b we hav
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we have a splash of headlines out of europe and better than expected housing data that can halt. all the while as you mentioned before ibm down 5%. that is 75 points in the dow and one point in the s&p. they could not push the market down.
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right now macro focus, not micro focus. we need to stay in for the ride. liz: are there more positive than negatives? consumer sentiment seemed a little better and good retail sales numbers a couple days ago. >> we have seen good numbers vair and stabilizing numbers in china and the markets continually underestimating the tailwind good housing numbers could have for the economy and markets will continue to march higher by shrouded in that is an immense amount of negativity in the market. nobody believes this market can go higher because of this cliquish is. spain might say 9 of a variety of other reasons but we are marching higher even to the point you made earlier. dave: that i'm surprised what happened to ibm and intel. >> very surprise. down 5% at last glance. the market's looking beyond that and the fact is we are writing
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off quarter 3 and 4. the top down number for the s&p 500 stock is $105. bottoms up is $115. ten dollars of reductions already baked into the market given the fact that we are 1.5% gdp growth. market's rallying on this bad news. dave: just to finish up on that, is ibm going to buy 200? >> ibm is a body only because option volatility is so cheap right now. ibm is trading below 10% over the last three years. 5 bonet ibm it very conservative and hold the option premium against it. a downside risk. liz: stayed there. we want to bring in larry hagerty. multimedia trust portfolio manager with jamie cox, harris financial group managing
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partner. let me throw this to you first. looking at the action we saw today held a pretty good by the markets and by the end of the session we saw a gain for the dow. what goes through your mind when it comes to saying i'm in the market? >> look at the doubt and industrial average. was a four points and if you factory, ibm is up 80 points but plenty of strength in the market. look at housing starts. housing starts matter because in the consumer world in terms of consumer balance sheets housing is the biggest part of the wealth part of the wealth portfolio. if you have housing moving along people feel better about their personal situation and start to spend and you see it in the consumer data and housing starts and you will see it as we get the cycle started in the market. if you are buying shares of financials you need to attention to what the consumer is doing because the consumer drives the financial results of a financial company. dave: we will get the picks and a second but compared to jamie,
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you are even more of the bull. is extraordinary how bullish both of you are the new focus on the consumer and not wonder what happens if the consumer turned off? the consumers in turn out on a dime. >> that is not likely with wealth being created. he handled the housing and the important thing is not starts going up but how values are beginning to turn. real-estate transactions in the boston area are growing rapidly. volume precedes price. looks like the case schiller's have turned and instead of worrying about house prices falling the consumer is going to start worrying about house prices increasing. liz: we have american express numbers sorted out and there was a question on the eps number but stock is moving slightly lower. let's get to robert gray. robert: we are seeing them and revenue numbers coming in missing estimates. part of the reason the weakness
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year, $7.86 billion slightly below the uptick was $7.90 billion so a might be a rounding error but it is light and you are looking at $1.09 for continuing operations in line with estimates. meeting the bottom line and missing the top, american shares down after hours. we will be back with any new headlines. liz: the u.s. cardmember spending metric shows u.s. card members spending 8% to the upside this quarter. card service was down 5%. i wonder if that has something to do with it as well. let's go to jamie cox on american express. >> you have to look at the future. there was a deal wiih wal-mart with this bluebird opportunity where they go after a lower end consumers. what american express has always been known for its business and affluent customer base and they will try to go and compete with visa and mastercard and if you
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look at the earnings multiple of visa and mastercard versus american express it is a eight point difference so there's a lot of room for american express to move in the minds of investors. i would look forward as opposed to looking backward. this is a good buy at this point. dave: apologize for cutting you off for those figures but you understand why when you are looking at ibm and the slowdown, intel has problems because they are not that seem less in the way they have gone into mobile devices but now you look at american express aren't you at all concerned that we may in fact be getting a slowdown in spending, at least considering your expectation? >> i am sure it is going to go the other way. we are creating too much wealth. market is up 20% year-on-year. throwing that the expectation that housing prices will be increasing and you have the basis of aggressive consumer spending.
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in addition, the fact is ibm and intel kind of missed the boat and technology is stimulating consumer spending because of this monster spending going on in smart phones and tablets and the fourth calendar quarter of last year apple by itself made an incremental in the united states $5 billion so that is from collecting dollars that consumers voting to spend money on apple product will continue in the fourth quarter. there's more wealth and there is going to be more spending. i like a couple retailers that haven't moved too much. they are very cheap. one is macy in the middle of the market, they own the middle of the market. a very massive cash flow machine of tremendous brands and you have to bet on ron johnson especially at these prices and turnaround -- liz: he is a smart guy but he really misread the way j.c. penney consumer likes to shop. >> he is 10% of where he is going and i was just in one of
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the 10% stores and i don't think he misread anything can happen help the industry when it gets to 100% which will take him a year and i am reasonably convinced he has financial capability to get there so you have to play for the long run. this is a very smart guy. he has a good team. in a couple mistakes. he is writing this. stock is up 30% from the bottom. it has the potential to double that he gets it right. a good businessman's risks situation. this stock sold $80, $26 right now. it is a good play from market at record. dave: you focus not on the big guys so much but smaller banks like suntrust. used to be a sleepy southern bank has become a lot bigger. why you like these banks? >> they are not poisoned by the toxic waste material produced in the early part of the decade. these particular banks are leveraged to the southeast so if
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improvements happen in florida and georgia suntrust is perfectly leopard as house prices rise. the mortgage-backed securities or loans that are there to improve improve their balance sheet and suntrust is liquidated its coca-cola steak and never been available this time but that is a good place for suntrust. i like b.b. and tea. fantastically managed company committed to their dividend and -- dave: john allison who built beebe and tea and a tremendous job is gone. he was advocating institute. that bother you? >> not at all. the bank is the same. we went to virginia and we see branches everywhere. they are taking share from the bank of americas of the world, wells fargo and others. i believe that bank will thrive and they have already taken their hits with the net interest margin with low interest rates so they are not at risk for having that be a surprise in earnings which come out tomorrow. liz: good to see both of you. larry, we will come back to you
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when we get the s&p futures pits to close. >> we have a lot more to go. dave: home builder confidence jumping to a six year high. what is fueling the optimism? we are talking to the man behind the top ten real-estate firms in the country, ross perot jr. joining us in a fox business exclusive coming. robert: you may believe this or not. liz: could we really be a romney/biden white house? we will tell you how that could possibly play out next. dave: the tablets space is getting crowded but this company may be too little too late. we will tell you who is and what they're doing and whether it is a good bet coming up in today's speed read. [ male announcer ] this is steve.
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dave: busy day on earnings.
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robert gray, one of the numbers? robert: robert gray coming in better than expected on earnings, $0.55 a share. revenue numbers, look like, $3.4 billion and the estimates $3.14 billion for ebay and shares are swaying and dig through paypal and added 14% users but we are continuing to dig in and look at other metrics in addition to the revenue number. dave: if you confined out how much of the total sales are paypal accounts, for half of all of ebay's revenue, maybe paypal was making less, they haven't expanded the way they wanted to. >> we will have that in the second. dave: 60% this year by the way. liz: paypal ended the quarter with seventeen million active users, active registered
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accounts of 14% increase so if that tells you anything a power raises the question whether they would spin off paypal. let's get to nicole petallides on the floor of the stock exchange and see how we based trading. nicole: we are looking at ebay in the after-hours, following it closely after they came out with numbers and revenue came in light on ebay, trying to get a look but i am on a delay. let's look at numbers as we are looking at breaking news on american express and the bay, generated $1.2 billion of operating cash flow in the quarter and also talk about the buyback throughout the quarter as well but we will continue to watch and ebay is a 50% year to date and that is one to watch. dave: they were expected to announce plans to expand paypal in to mobile devices specifically and may have fooled back on those plans. it is taking a hit after hours even though it be the top line,
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just missed the bottom line. thanks, appreciate it. liz: candidate still neck-and-neck for the race to the white house and political analysts are saying the possibility, listen to this, of an electoral tide is more likely now than in any other election. dave: remember to thousand. crazier things can happen. what happened if president obama and romney tie? that is a picture of romney celebrating victory with joe biden. we photoshop this but rich edson is here to explain how that could actually come to pass if all the stars of line in a certain way. liz: it is possible. polls show several states could go either way on november 6th and there are a handful of realistic combinations giving president obama and governor romney 269 votes each, a tie. if that happens congress could choose the next vice president and president.
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the house selects the president and the senate picks the vice president and if democrats hold the majority in the senate and republicans maintain an ounce -- >> you could get a split ticket. we don't have that. we do have it. go for it. >> you may have a republican president, president romney, and the democrat vice president, vice president biden. dave: congress's task is to resolve hundreds of billions of dollars in tax hikes and spending cuts. it is a more difficult task when they are going to be busy figuring how to the next president and vice president might be. back to you. [talking over each other] liz: they would not like the outfit but it could happen.
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amazing. dave: remember to thousand. the election has the potential to bring investors back to the sidelines. according to a new report, find out what else is revealed first on fox business when ubs's chief investment strategist joins us, valuable information you can use next. [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? whatever your business challenge, dell has the technology and services to help youolve it.
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dave: time for speed read of the other headlines. five stories in one minute. best buy planning to price its in-house tablet between $239, 5 to $59. the new tablet could hit stores in less than a month. global smart phone usage across $1 billion for the first time.
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of 47% increase from a year ago. a recent report by strategy analytics estimate smart phone used to double by 2015. americans are planning to spend $749.51 on gifts this year. this is a 1.2% climb from last year, the smallest increase in spending since holiday sales fell 2% in 2008. almost a third of homeowners are expecting their grown children rating parents to move in. recent survey says winning seven homeowners have a boomerang kids or elderly parent tender their roofs. and several cities, the real-estate website has variables deciding its rankings and local home values and population and crime rates and that is today's speed read. liz: i moved into my parents''s house after college. i don't know anybody who didn't at least for a few minutes. we have a first look at the ubs investor watch survey. i have in my hands and it won't be released until tomorrow but
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we have it here and this is good news, it looks like investors have been sitting on cash for a long time but they now very well may want to get back in the game. joining us in a first on fox business interview mike ryan of ubs, chief investment strategist for. i grabbed this because i read it every year when it comes out that you have a huge client list. you can get a real sense of what people are thinking. big, the number one sentiment you see from your client's right now. >> clients have been sitting on the sidelines taking a cautious approach toward the market and a conservative position, looking to take on more risk. we are not talking about taking functions of the market but less cash they expect to hold going forward and more commitment to the market. liz: what is the trigger for that? why the change in sentiment? >> i attribute it to absence of malice. we have nothing breaking down or
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blowing up or melting down. the last couple summers we had this events whether it was debate or issues about the tsunami in japan, really hung over the market. the fact the we didn't have that coupled with some of the things you discussed earlier, the improvement in the housing market, the rebound in the financial markets, these things that helps the consumer and the investor. liz: people are not stressing? >> not stressing about it but it starts to recognize they have to be careful not to equate risks with outcomes. we have lots of risk taking place but they haven't all played out the same way. liz: these were what you were able to take a. this isn't your average consumer but at the top we saw the national debt, rising health-care costs, then the election. these are unknown at the moment. the european debt crisis and the middle east and investors are pretty sophisticated.
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they're not worried about the economy. >> the economy dropped in terms of major concern. i say a couple things are related to the economy. people are linking the over hang with what will happen and the economy and looking at potentially the outcome of the election and the growth problem. liz: in this report one of the things you talked about was if it were a romney president, there would be more uncertainty. might cause a little slowing growth -- >> it is short-term. you have a change of administration and any change leads to a certainty. what policy prescriptions will we follow? what will we see in the -- what will tax code look like? that is the short-term issue but if you look longer, the growth prospects are better under romney and looking past the short-term period.
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liz: it could lead to slower growth. where are you pegging to put the money? what do investors feel, and ready to pull the trigger and come out of the sideline? >> we are hearing their more willing to commit to the market in general. one thing we want to be careful about is most of the money committed to the market has been in a really defensive sectors. a commitment to the areas that have less volatility and higher yield, at some point utilities and telecoms could be so expensive so we try to steer people toward what we consider more attractive cyclical and less expensive defensive sectors. liz: such as? >> technology, industrials, mixing with consumer staples that we think are less expensive. liz: the new ubs survey including thoughts on how the election might play out as far as the investors are concerned. mike ryan bringing it to was on fox business. the ubs chief investment
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strategist. thank you so much. dave: we have been talking about it all day. home builder confidence hit a six year high as construction surges 15% to a four year high. what is really behind the resurgence and will this help the president sell his message that things are getting better? we will talk to ross perot jr. who owns one of the top real-estate firms in the country. this is a fox business exclusive coming right up. bob...
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oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hai looks great. didn't realize they did phoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign.
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which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. david: big housing news today as we got word residential construction jumped 15% in september. is this a trend or another temporary surge that will burn out? do these numbers confirm the president's message that things are getting better?
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our next guest a businessman who invests in housing and the son of rose perot who played a critical role in an election not too long ago, who just endorsed mitt romney. we welcome ross perot, jr., chairman of the perot group. romney. you endorsed him as well. >> i have. been with governor romney since 2008 and been a big supporter. david: first of all, what do you think of the job he did last night? >> i think he did a great job. i've been in the debates. i was there with my father. i watched the vice-presidential debate. to be in the arena and perform the way both men did is difficult job. romney did a great job and came out on top. and i was impressed. david: a lot of conservative supporters of romney that he missed key opportunities of the he didn't mention solyndra when the president was touting a green energy program, things like that. of course the libyan situation.
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did he miss the bet on those? >> i don't think so because he talked about the economy. went through key points of economy, what he will do to fix our economy. the critical issue in this country we've got to get the american people back to work and we have to grow. that is what governor romney will have to do. david: all right. >> the other issues are important but growth is the most important. david: as part of growth people have been saying for a couple of years now we can't really consider our economy growing until we get housing in order. these new housing numbers look pretty good. don't they? have we turned the corner in housing? >> i david, i think we turned the corner. we've been investing in housing the past three years. we've been in the business 25 years. we've been on the bottom. we're starting to come back. we're 850,000 homes per year. we're off a high of 1.8 million new homes a year. we're happy at this level of 800 to a million homes a year. we can build a good business. i think we're coming back. david: what and where are you buying? what kind of housing are you buying and where exactly?
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>> we are land developers. we have 30 communities across the united states. we're investing heavily in texas. we're pretty well through with our texas investment because texas really recovered. our big focus in california. we teamed up with a great home building team, new home company, larry webb. we're investing with larry with phenomenal new projects in california we're excited about. david: all this would seem in a way to support the president's message that things are getting better, no? >> it is getting better but look how long we've been down and what a terrible low we have been on. this should have come back two to three years, david. it has taken us a long time to come back. a huge amount of pain in the system to bring us back. amazing how you start building again you see problems in the supply chain. in texas we don't have enough labor to build homes. in texas, we build warehouses. we don't have people to build warehouses in texas. we're building warehouses in california. california seems to be a
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better situation on labor. you will have a lot of interesting problems with the economy as it starts to come back because the supply chain has been really decimated over the past four or five years. david: it has. nice to have problem not enough labor. >> it is great. if you think, david, what do we do as businessmen and women? we go out. we build our companies. we create jobs. we've created thousands of jobs at hill, wood the past 12 months with our new construction starts and our warehouses. we're very proud of that. that's what we need to do to help bring the economy back. >> i wonder if your guy loses and another term of president obama will this positive trend, as slow as it is, will it continue in a positive direction? >> you know, if you're a big developer like we are, you will continue to move forward. you will continue to build because there is some demand out there. who will get hurt is the medium size developer and the small developer. more years of slow growth is going to decimate the medium
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to small developer. we're large enough we can continue to push forward. we don't have to rely on a bank every day to finance our projects. most developers do. because of the banking, you still can't get reasonable debt out of a bank if you're a mid-sized developer. it will be slow, it will be painful and in our world we'll be find but i'm concerned about the nation. how do we get all of our pierce up and running and go back to a great economy we had. david: what specifically do you think a president romney would do to help those small and mid-sized developers? >> you've got to go back to unified team. you have to pull the whole country back together. we need a optimistic message. follow the reagan gameplan. great message. optimism, low regulation, certainty. let's build the nation. get back to work. it is greatest nation in the world. it is still the best nation by far to invest in. that's why we're investing all across to country to bring it back. we have a wonderful fwut ture. we get out of this problem with growth and optimism. that is what governor romney
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will bring to us. david: congratulations on doing well. by the way how is your dad doing. >> dad is doing great. thanks for asking. david: ross perot, jr., chairman of the perot group. great to see you. come back and see us again. >> david, thank you. great job. david: thanks a million. liz: the economy would be dragging along under 2% growth but one company is not slowing down. it is hiring 30% more this year. named as one of the top startups in the country. the secret to their success is next. ♪ copd makes it hard to breathe,
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but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantlimprove lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day.
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may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still having difficulty breathing, ask your doctor if including advair could help improve your lung function. get your first full prescription free and save on refills at advaircopd.com. >> i'm robert gray with your fox business brief. american express reported mixed third quarter results after the bell. earnings for the credit card processor beat estimates while revenue fell short.
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amex says the relatively flat profit reflect as slow down in card member spending versus earlier in the year. ebay's third quarter revenue and full year outlook both disappointed investors. profit topped estimates driven by the marketplace division and paypal online payment system. paypal registered a 14% increase in users but revenue in the unit fell short of expectations. volatile day down on wall street as stocks spent the day searching for direction despite a stellar report on the u.s. housing market, disappointing profit report from ibm and intel weighed on all the major indexes. that is the latest from the fox business network, giving you the power to prosper
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david: "the wall street journal" published a list of the top 50 startups in the country and one of the top three might help your tablet or smartphone run even faster.
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liz: they have created world's first wireless internet switch. joining us shane buckley. maker of wireless network and hardware and software. congratulations to "wall street journal" pick you out as one of the top is exciting at a time you hear some people i would never start a business right now. you guys have done extraordinarily well. first explain to our viewers what you do that is extraordinarily special. >> thanks, david and liz, inviting me here on the show. we were delighted to be selected by "the wall street journal" and this the third year cerus was listed. what sirrius does invest in corporate networks and outside of corporate networks that need to be connected to the internet. wireless was invented 15
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years ago. over the last probably 10 years or so, it has been deployed predominantly for guest access and the occasion usage of employees and meeting rooms, accessing e-mail. whenever there was performance issue on wireless they would ring the i.t. department. they would say plug it into the wall and everything would be okay. hear is the issue. over the past three years a whole new proliferation of devices emerged, iphones, ipads, android devices other tablets and wireless laptop guess what? they don't have ethernet port. what you call i.t., what is the answer, we need to have wireless actually work. david: shane, i need to move you on. we're running out of time. sane. okay, i have to ask you a couple of questions we're literally running out of time. it is internet plumbing, basically have wire-like performance for wireless devices if i understand.
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iphone is five times faster than the 4-s than its predecessor but if running on a system that is the same old system it will not reach its potential. so you help these devices reach their potential, right? >> that's exactly right. that is 100% correct. david: one question a lot of people want to know. if you're so successful why aren't you going public? >> well, there is a time and place for everything. i think our primary task right now to build a truly great company. we're investing a lot in the organization, particularly expansion overseas, in markets like germany, asia-pacific, specific areas like korea and also china. that requires more capital. our investors have been fantastically supportive of the business of the at the right time when we're profitable i guess we'll turn to the public markets and look at potential. liz: you are taking on the big doberman pinchers in the industry, cisco and areva. you're like a small dog
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jumping up and pulling them down. it is fascinating to see. thank you very much for joining us. >> thank you for having me. liz: shane buckley of xirrus. don't miss this friday. we'll be joined by "the wall street journal"'s number one start up, gen band ceo. not bad. we like those stories. nike and radioshack severing ties to lance armstrong because of the doping scandal surrounding him. can the cyclist make another comeback and rebuild his brand, or, have the wheels totally fallen off of this one? dennis kneale looks at brand armstrong or what's left of it. that is next. david: the richest person of all time, find out who it is and how much money it takes to top that list coming next. [ male announcer ] how do you turn 30-million artifacts...
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liz: people are wondering if this were to happen. nike dropping former pro cyclist, lance armstrong as a sponsor, the same day he steps down from the cancer fighting charity, livestrong.
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david: dennis kneale on the story of lance armstrong's extraordinary fall from grace. dennis. >> dennis lance armstrong has taken a nasty tumble from his bike. america likes a comeback but despise as unrepentant liar. nike terminated his contract and basically called him a liar. radioshack followed it. later today, anheuser-busch said it will kill his contract at year-end. nike put it particularly bluntly, saying quote, due to the seemingly insurmountable evidence that lance armstrong participated in doping and misled nike more than a decade it is great sadness we terminated our contract with him. lance armstrong never fessed up and repented. he denied the charges for years, dubbing the investigation a witch-hunt. in august even filmed this nike ad back in 2001. it looks especially cheeky now. >> this is my body. and i can do whatever i want to it.
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everybody wants to know what i'm on. what am i on? i'm on my bike, busting my ass six hours a day. what are you on? >> man, i get chills. can the most famous cyclist in racing history pedal a comeback? other athletes done it. nike rehired quarterback michael vick after serving 21 months in prison for his role in a dogfighting ring. some are betting against lance armstrong. evan morgan stein has done $40 million in endorsement deals. when you ask his view, he gets as blunt. telling us, that is great story surviving cancer, in terms of an iconic athlete people want to look up to that lance armstrong doesn't exist anymore. liz, dave. liz: that comercial looks lame now, doesn't it? david: remember it wasn't too long ago everybody had those bands. he is the guy who started the bands, remember? >> he sure is. david: thanks very much, dennis. following his controversial
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release last week, one key piece of data could move the markets tomorrow. it is tomorrow's trades today next. liz: where is the most expensive zip code in all of america? david: i bet you used to live there. liz: look at this. is it alpine, new jersey? is it new york? or hillsborough, california, 94010. we'll find out after the break. e ♪ what's next? he's going to apply testosterone to his underarm.
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axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron inot for use in women or anyone younger than 18. iron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serious side effects could include increased risk of prostate cancer; worsening prostate symoms; decreased sperm count; ankle, feet, or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, headache, dirhea, vomiting, and increase in psa. see your doctor, and for a 30-day free trial, go to axiron.com.
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david: time to go "off the desk." going to break we asked where america's most expensive zip code is. no it is not 90210 liz. your old zip code. it is 165 on the upper east side of manhattan. median home price, 6 1/2 million dollars. that is median. it has pricey neighbors. new york city has four of the top 10 most expensive zip codes in the country according to the list published by forbes. liz: i didn't see 90210. let's go off the desk. we found the richest man of all time. you probably never heard of him. this is a african king in the 14th century. inflation adjusted, list of the world's richest people, king's net worth comes in massive inflation adjusted. $400 billion. david: all in gold. liz: good to be king. david: numb per one, jobless
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claims. the figure fell to 339,000 for the week of october 6th. this is a decline of 30,000 from the prior week and the biggest drop since july. a possible issue involving a state not fully reporting claims numbers, remember that may have skewed the final tally. economists are expecting a uptick in tomorrow's report. lets hope and pray. liz: we'll have it here on fox business. "money with melissa francis" is next. don't move. >> in the last four years you cut permits and licenses on federal land in federal waters in half. >> not true, governor romney. >> how much did you cut them. >> not true. >> how much did you cut them? >> governor we produced more oil. >> no, how much did you cut licenses and permits on federal lands and federal waters?. melissa: welcome to the 2012 smackdown. of the president obama and mitt romney go to the mat on energy policy. our favorite topic. both men unleashed all kind of stats. we're going to crunch the real numbers for you. also money tonight, new

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